Insider Trading at Kite Pharma Inc?

Posted March 04, 2017

Meanwhile, Kite Pharma Inc (NASDAQ:KITE) is starting to shed some of its recent red-hot gains. The analysts, on average, are forecasting a $81.92 price target, but the stock is already up 88.6% from its recent lows.

Analysts are speculating a 19.84% move, based on the high target price ($90) for the shares that is set to reach in the next 12 months.

In Kite's favour is that, while some patients relapse, others might take a while to go into remission: one of four partially responding patients at six months improved to a complete remission three months later, Kite said. (NASDAQ:KITE) shares have traded $18.95 off of the 50-day moving average of $53.52 and $20.07 off of the 200-day moving average of $52.40. Jefferies Group reissued a "buy" rating and issued a $72.00 price objective on shares of Kite Pharma in a research report on Monday, September 19th. FBR & Co restated a buy rating on shares of Kite Pharma in a research report on Tuesday, December 6th.

12/05/2016 - Kite Pharma, Inc. had its "buy" rating reiterated by analysts at Stifel Nicolaus.

Shares of Kite Pharma (NASDAQ:KITE) traded down 1.93% during trading on Thursday, hitting $51.95.

Best time to invest in stock market is when things are on odd side, and it's not easy how to pick stocks. Kite Pharma has a 1-year low of $39.82 and a 1-year high of $64.30.

Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings results on Monday, February 27th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.75) by $0.44. The firm had revenue of $4.90 million for the quarter, compared to the consensus estimate of $5.74 million. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%.

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Kite reportedly intends to seek U.S. Food and Drug Administration approval this spring and approval in Europe later this year. The company's revenue for the quarter was up.0% on a year-over-year basis.

Kite Pharma's shares, which closed at $56.83 on Monday, are now halted. If you are viewing this piece on another website, it was stolen and republished in violation of United States & worldwide trademark and copyright legislation. The correct version of this story can be viewed at [[permalink]]. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 170,862 shares of company stock valued at $11,322,241.

3/1/2017 per share and the total transaction amounting to Helen Susan Kim. Following the sale, the senior vice president now owns 15,095 shares in the company, valued at $767,731.70. The disclosure for this sale can be found here. Strs Ohio now owns 3,200 shares of the biopharmaceutical company's stock valued at $178,000 after buying an additional 800 shares during the last quarter.

Institutional investors have recently added to or reduced their stakes in the stock. Finally, Seven Eight Capital LP purchased a new stake in Kite Pharma during the fourth quarter valued at approximately $197,000. BB Biotech AG raised its stake in Kite Pharma by 6.7% in the third quarter. Bainco International Investors increased its stake in shares of Kite Pharma by 2,722.8% in the third quarter. BlackRock Fund Advisors now owns 1,751,216 shares of the biopharmaceutical company's stock valued at $97,823,000 after buying an additional 94,421 shares in the last quarter.

The Company has 50.23 million shares outstanding and 44.66 million shares were floated in market.

Kite Pharma clinical development senior VP Jeff Wiezorek said: "These results with axicabtagene ciloleucel are exceptional and suggest that more than a third of patients with refractory aggressive National Hockey League could potentially be cured after a single infusion of axicabtagene ciloleucel".